Post Holdings, the US breakfast cereal manufacturer building a business in sports nutrition, is to snap up Nestle’s PowerBar and Musashi brands.
Speculation Nestle was looking to offload its PowerBar sports nutrition business first emerged in September, although the Swiss food giant refused to be drawn on the reports.
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Post announced a deal to buy PowerBar and Musashi for an undisclosed sum today (3 February).
The Grape-Nuts cereal owner has broadened its business in the last 18 months through a series of deals, including the acquisitions of Premier Nutrition Corp. and protein bar firm Dymatize. Post said it would add PowerBar and Musashi to those two companies to form an “active nutrition group” within its business with an expected annual revenue of US$550m.
Citing data from Euromonitor, Post said the global active nutrition category is projected to grow at a compound annual growth rate of 7% between 2014 and 2017.
Nestle acquired PowerBar in 2000 for an undisclosed sum, although reports at the time said the company paid US$375m. The brand was founded by Canadian athlete Brian Maxwell in 1986. The PowerBar product portfolio included energy bars, sports drink mixes and supplements.
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By GlobalDataFive years later, Nestle acquired Australia-based Musashi. Both deals were part of a drive by the world’s largest food maker to move into nutrition.
